Trump signs order prohibiting Broadcom takeover of Qualcomm
Reuters
Published Mar 12, 2018 06:46PM ET
Trump signs order prohibiting Broadcom takeover of Qualcomm
WASHINGTON (Reuters) - U.S. President Donald Trump issued an order on Monday prohibiting Broadcom Ltd's (O:AVGO) proposed takeover of Qualcomm Inc (O:QCOM) on grounds of national security.
Qualcomm has rebuffed Broadcom's $117 billion takeover offer, which is under investigation by the Committee on Foreign Investment in the United States, a multi-agency panel led by the Treasury Department that reviews national security implications when foreign entities take over U.S. corporations.
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Written By: Reuters
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